An implication of scarcity is that:
A. making trade-offs becomes unnecessary as wealth increases.
B. people must make trade-offs.
C. some people will always be poor.
D. people will never be happy.
Answer: B
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If the capital-labor ratio equals 1.5 in the steady state, depreciation equals 20, and dilution equals 10, break-even investment equals
A) 15. B) 20. C) 30. D) 45.
Inflation targeting usually increases the uncertainty about the course of action of central banks, as perceived by the general public
a. True b. False Indicate whether the statement is true or false
If a decision maker uses marginal analysis, then the relevant costs are the
A. full costs of a particular activity or product. B. fixed costs that do not vary with the extra activity or output. C. profits obtained on the activity or product. D. average costs for a particular activity or product. E. additional costs of a particular activity or product.
A government's policy of redistributing income makes the income distribution
a. more equal, distorts incentives, alters behavior, and makes the allocation of resources more efficient. b. more equal, distorts incentives, alters behavior, and makes the allocation of resources less efficient. c. less equal, distorts incentives, alters behavior, and makes the allocation of resources more efficient. d. less equal, distorts incentives, alters behavior, and makes the allocation of resources less efficient.